Nagaland State Cooperative Bank (NStCB) Ltd. has launched three new financial products, “Home loan”, “Salary plus savings scheme” and “Salary plus loan scheme” here on Tuesday. The products an initiative of BDPIC, supported by NABARD at NStCB Ltd. head office was with chief general manager, NABARD Tiakala Ao.
Tiakala emphasized the need for continuous innovation to attract more customers. She expressed hope that the BDPIC resource team would tirelessly work towards developing better products in the future.
Tiakala highlighted the initiative as a key strategy to help expand the business, making it more competitive and aligned with offerings from other banks.
She acknowledged the bank’s long history of over 60 years but noted its limited growth compared to private banks that have rapidly expanded in the last decade. Tiakala also stressed the importance of public relations and customer engagement.
DGM (Cr/Rvy) Mhathung Khuvung, while highlighting on the new financial products said that home loan such as construction of dwelling house, purchase of land with construction, outright purchase of newly ready built flat/house or house under construction and renovation, extension, repair of house could be avail by salaried, professionals and business people with quantum of loan minimum Rs.10,00,000 to maximum Rs.75,00,000 with maximum loan repayment period upto 20 years. Khuvung said that special features include no repayment penalty, reschedule of EMI after part payment, attractive rate of interest 8.50% p.a and revised as decided by BOD from time to time and moratorium period upto 6 months.
Under Salary plus savings account, it includes no minimum balance (Zero balance), attractive rate of saving interest@ 4.5% p.a, free NEFT/TRGS, free platinum debit card, unlimited free ATM withdrawal, daily withdrawal limit of Rs.1 lakh in debit card, quarterly interest credit on savings account, free SMS service and easy loan facility.
For Salary plus loan scheme, it would be available only to those government employees/PSU’s/other’s drawing salary from NStCB branch, maximum loan amount that could be sanctioned would be 25 times the net salary draw per month or Rs.40 lakhs whichever is lesser, tenure of loan maximum upto 7 years, rate of interest under the scheme will be 10% per annum, top up facility would be available after one year of loan disbursed and dual facility of car/housing loan.
While delivering a short speech, managing director, NStCB Ltd. A.K. Deb and board of directors Nungsang Aier, acknowledged the bankers from different positions for their commitment to the bank. He further encouraged them to work tirelessly and diligently to ensure the best service to their customers.
During the programme, the management of NStCB Ltd, Dimapur also felicitated NABARD Chief General Manager, Tiakala Ao, who will be retiring on July 31. Earlier, the programme was chaired by DGM (MIS) Joshua Swu, where he welcomed the gatherings and vote of thanks by G.M (Admn/Vig) Jonah Sema.